ARX director to sell 180,000 Class A shares via Morgan Stanley (NYSE: ARX)

Rhea-AI Filing Summary

ARX filing: a Form 144 notice reports a proposed sale of 180,000 shares of Class A Common through Morgan Stanley Smith Barney. The record shows these shares relate to restricted stock vesting under a registered plan on 04/02/2026. The filing also records a prior sale of 50,000 shares on 03/23/2026 for $638,285.

Key Figures

Proposed sale: 180,000 shares Vesting date: 04/02/2026 Recent sale: 50,000 shares +1 more

4 metrics

Proposed sale 180,000 shares Class A Common; related to restricted stock vesting on 04/02/2026

Vesting date 04/02/2026 Restricted stock vesting under a registered plan

Recent sale 50,000 shares Sold on 03/23/2026 by Green Jay Michael

Proceeds from recent sale $638,285 Proceeds reported for the 50,000-share sale on 03/23/2026

Key Terms

Form 144, Restricted stock vesting, Selling broker

3 terms

Form 144 regulatory

"Form 144 notice reporting proposed sale of securities"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

Restricted stock vesting financial

"Restricted stock vesting under a registered plan dated 04/02/2026"

Restricted stock vesting is the timetable and conditions under which shares granted to employees or insiders become fully owned and can be sold, typically requiring continued work or meeting performance goals. It matters to investors because large blocks of shares can become tradable at once, which can change share supply and price, and because vesting aligns insiders’ incentives with the company’s long‑term performance—think of it like a timed unlock that both rewards and locks in key people.

Selling broker market

"Morgan Stanley Smith Barney LLC identified as intermediary for sale"

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	180000	2828070.00	112799194	05/18/2026	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Class A Common	04/02/2026	Restricted stock vesting under a registered plan	Issuer			180000	04/02/2026	Services Rendered

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Green Jay Michael 1209 Orange Street Wilmington DE 19801	COMMON/ORDINARY:CL A	03/23/2026	50000	638285.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does ARX's Form 144 report about shares for sale?

The Form 144 reports a proposed sale of 180,000 Class A shares to be sold through Morgan Stanley Smith Barney. The filing ties these shares to restricted stock vesting under a registered plan dated 04/02/2026.

Did any ARX insider sell shares recently?

Yes. The filing shows a sale of 50,000 Class A shares on 03/23/2026 generating proceeds of $638,285. That sale is listed under "Securities Sold During The Past 3 Months."

Which broker is handling the proposed ARX sale?

The proposed sale is listed with Morgan Stanley Smith Barney LLC (Executive Financial Services, New York). The broker is identified as the intermediary for the 180,000-share transaction in the filing.

Are the 180,000 shares newly issued or vested shares?

The filing indicates the 180,000 shares are associated with restricted stock vesting under a registered plan with the vesting date shown as 04/02/2026, consistent with compensation-related issuance.

Does the Form 144 disclose the aggregate proceeds expected from the 180,000 shares?

The excerpt does not state an explicit aggregate sale price for the 180,000 shares. The filing records prior proceeds for 50,000 shares as $638,285 but does not tie a price to the proposed 180,000-share sale.